Toyota Motor to invest US$1bil in ride-hailing firm Grab

The investment by Toyota is the largest-ever by an automaker in the global ride-hailing sector, the six-year old startup said in a statement. — Reuters

SINGAPORE: Toyota Motor Corp has agreed to invest US$1bil (RM3.99bil) in South-East Asian ride-hailing firm Grab as a lead investor in the company's ongoing financing round, which was launched after it bought the regional business of Uber Technologies Inc.

The investment by Toyota is the largest-ever by an automaker in the global ride-hailing sector, the six-year old startup said in a statement on June 13.